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Dec 5, 2012
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do they cut a deal, congressmen? to avoid the fiscal cliff before we actually get there? >> i believe so. >> senator? >> yes, as long as you realize that the treasury secretary sets withholding taxes, he doesn't have to raise it even if the taxes go up and the sequester doesn't have to happen month by month. you can do the sequester in the last month of 12 months if you want. so it gives the congress anotherality or nine -- probably four or five month the next year before they have to reach a deal. >> you're thinking they could kick the can down the road but who thinks the market's not going to let them do that? they'll be punished. >> they'll be hugely punished. >> sooner rather than later? >> immediately. >> we haven't seen it so far. >> >> the herd will turn. erskine's got a very famous line that says, we got away with it last time because we had the best-looking horse in the glue factory or whatever he says. we're not going to get it passed this time. >> we're not going to get it passed. no. >> the president doesn't want a deal. >> we will get punished. and that is ve
do they cut a deal, congressmen? to avoid the fiscal cliff before we actually get there? >> i believe so. >> senator? >> yes, as long as you realize that the treasury secretary sets withholding taxes, he doesn't have to raise it even if the taxes go up and the sequester doesn't have to happen month by month. you can do the sequester in the last month of 12 months if you want. so it gives the congress anotherality or nine -- probably four or five month the next year before they...
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Dec 4, 2012
12/12
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with the fiscal cliff dealing with the issue of social security and medicare. social security, no, not part of this problem. something we'll deal with perhaps in the next congress or even in the one beyond that because we do have time to deal with social security. medicare, for those who want to privatize medicare, end it as we know it with a voucher or premium support program, no, no how are we going to go there. for those who want to work on changing the way in which medicare operates, to get saving such as drug -- negotiating drug prices, dealing with fraud and abuse, the various payment systems that are in medicare, all of which can save money and to continue, continue the work of the affordable health care act in the way it has already brought the inflation rate from the 4% to 5% down to the 2%, 2.5% range, this is an extraordinary savings right here and that will be calculated in the years ahead. this will add up to tens -- frankly, this will add up to hundreds of billions of dollars in the reduction in the projected cost of medicare in the years ahead. s
with the fiscal cliff dealing with the issue of social security and medicare. social security, no, not part of this problem. something we'll deal with perhaps in the next congress or even in the one beyond that because we do have time to deal with social security. medicare, for those who want to privatize medicare, end it as we know it with a voucher or premium support program, no, no how are we going to go there. for those who want to work on changing the way in which medicare operates, to get...
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Dec 4, 2012
12/12
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the fiscal cliff has come about because of happenstance. we have a series of events that were designed to happen. we have other things that are going to happen that are not necessarily intended. debt going to hit the ceiling again very shortly after the first of the year. that is something at happens when it happens. host: one piece you alluded to with entitlements is the simpson-bowles would raise the social security retirement age. explain where it would go. guest: it would raise the retirement age. right now it is scheduled to go up to 67. that was a deal reached in the 1980's to keep social security solvent. we are living longer. or social security was first created, the retirement age was 65. life expectancy was 64. now we're talking life expectancy of around 80. what this does is raising up and indexes s list. in 2075, the benefits will start being paid out. when you're 69, there are 67. like expectancy will grow at a faster rate. some argue this is still a cut because it is changing from current law. others argue it is not a change.
the fiscal cliff has come about because of happenstance. we have a series of events that were designed to happen. we have other things that are going to happen that are not necessarily intended. debt going to hit the ceiling again very shortly after the first of the year. that is something at happens when it happens. host: one piece you alluded to with entitlements is the simpson-bowles would raise the social security retirement age. explain where it would go. guest: it would raise the...
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Dec 4, 2012
12/12
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blumenauer: there is a great deal of hyperactive rhetoric about the fiscal cliff and the trouble ahead. the fact is that people should just take a deep breath and focus on where we are and where we need to go. first of all, it's not a fiscal cliff but a slope. there are many opportunities for us in the weeks ahead to be able to change the unsustainable trajectory of america's financial future. there are many efforts already evident and people taking steps to try and cope with it. the president campaigned very explicitly on raising the top tax rates. it was something that was embraced by democrats running for the senate and virtually all of them running for the house. . the house increased in democratic numbers. there were more democrats added to the house and more americans voted for the president and his vision, for the senate democrats and for democrats in the house than my republican friends on the other side of the aisle. it's encouraging that the president has decided that he's no longer going to negotiate with himself. he's laid out his positions, and has encouraged a response. i
blumenauer: there is a great deal of hyperactive rhetoric about the fiscal cliff and the trouble ahead. the fact is that people should just take a deep breath and focus on where we are and where we need to go. first of all, it's not a fiscal cliff but a slope. there are many opportunities for us in the weeks ahead to be able to change the unsustainable trajectory of america's financial future. there are many efforts already evident and people taking steps to try and cope with it. the president...
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Nov 29, 2012
11/12
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the fiscal cliff? >> there is a free-market we presented to the white house two weeks ago. the framework has been agreed to in terms of a down payment for the end of this year. that would include spending cuts and it would include revenue. setting up a process for entitlement reform next year and tax reform next year. but this is way out of bounds. and not a recognition by the part of the white house on the serious spending problem we have. >> facing the prospect of going over the fiscal cliff or extending the lower tax rate and at the upper one, which would you choose? >> i will do everything i can to avoid putting the american economy and the american people through the fiasco of going over the fiscal cliff. >> [indiscernible] >> as i told the president a couple of weeks ago, there are a lot of things i have wanted in my life, but almost all of them had a price tag attached to them. if we're going to talk about the debt limit in this, there will be some price tag associated with it. >> are you standi
the fiscal cliff? >> there is a free-market we presented to the white house two weeks ago. the framework has been agreed to in terms of a down payment for the end of this year. that would include spending cuts and it would include revenue. setting up a process for entitlement reform next year and tax reform next year. but this is way out of bounds. and not a recognition by the part of the white house on the serious spending problem we have. >> facing the prospect of going over the...
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Dec 6, 2012
12/12
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with the fiscal cliff. marchese said tax increases are necessary to reduce the deficit. senator bob casey of pennsylvania chaired the hearing. >> the committee will come to order. we want to thank everyone for being here today. i did not have a chance to personally greet our witnesses, but i will have time to do that later. i want to thank both of our witnesses for being here. i will have an opening statement that i will make, and then i will turn it to dr. burgess. i know that vice chairman brady will be her as well. we know the challenges that we confront here in congress on a whole range of issues which are sometimes broadly described under the umbrella of the terminology, fiscal cliff -- when we confront those difficult challenges, we have to ask ourselves a couple of basic questions. one of the basic questions we must ask is, what will be the result and will be the impact as it relates to middle income families? what will happen to them in the midst of all these tough issues we have to work out? we kno
with the fiscal cliff. marchese said tax increases are necessary to reduce the deficit. senator bob casey of pennsylvania chaired the hearing. >> the committee will come to order. we want to thank everyone for being here today. i did not have a chance to personally greet our witnesses, but i will have time to do that later. i want to thank both of our witnesses for being here. i will have an opening statement that i will make, and then i will turn it to dr. burgess. i know that vice...
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Dec 7, 2012
12/12
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with the so- called fiscal cliff. he says the house will not the interim until an agreement is reached a preventing tax increases and spending cuts scheduled to take effect in did worry. live coverage as always on c- span. and john boehner are just spoke to reporters on capitol hill, on the so-called fiscal cliff negotiations and the economy, including this morning's release on the november jobs numbers. here are his comments. >> good morning, everyone. this is not a progress report, because there is no progress to report. when it comes to the fiscal cliff threatening the economy and jobs, the white house has wasted another week. eight days ago the treasury secretary came here to offer a plan that had twice the planned tax hikes the president campaigned on. more stimulus spending than the added cuts, and did and didn't but net -- in definite increase on the debt limit. four days ago we offered a serious proposal based on testimony of president clinton's former chief of staff. since then there has been no counter offer
with the so- called fiscal cliff. he says the house will not the interim until an agreement is reached a preventing tax increases and spending cuts scheduled to take effect in did worry. live coverage as always on c- span. and john boehner are just spoke to reporters on capitol hill, on the so-called fiscal cliff negotiations and the economy, including this morning's release on the november jobs numbers. here are his comments. >> good morning, everyone. this is not a progress report,...
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Nov 30, 2012
11/12
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unfortunately five years later as we deal with the looming fiscal cliff, some in the president's own party are denying the fiscal reality when it comes to social security. here are the facts -- social security is the government's most expensive program. since 2010 it's been bleeding cash, and over the next 10 years it will do so to the tune of nearly $1 trillion. as recent "usa today" editorial put it, social security is indeed contributing to our deficit. to say otherwise is to lie to the american people. mr. speaker, all americans want, need and deserve that we work together to address our fiscal challenges. we owe it to current and future beneficiaries to secure this critical safety net. we can make social security solvent forever. let's do it. i yield back. the speaker pro tempore: the gentleman's time has expired. for what purpose does the gentleman from georgia seek recognition? >> i ask unanimous consent to address the house for one minute and to revise and extend. the speaker pro tempore: the gentleman from georgia is recognized for one minute. >> thank you, mr. speaker. mr.
unfortunately five years later as we deal with the looming fiscal cliff, some in the president's own party are denying the fiscal reality when it comes to social security. here are the facts -- social security is the government's most expensive program. since 2010 it's been bleeding cash, and over the next 10 years it will do so to the tune of nearly $1 trillion. as recent "usa today" editorial put it, social security is indeed contributing to our deficit. to say otherwise is to lie...